Kotak Car Insurance

Kotak Mahindra is a popular general insurance company in the business. The company was incorporated in December 2014. However, Kotak received approval from the IRDA in April 2015. The company offers an array of non-life insurance products like car insurance, two-wheeler insurance, health insurance, and plenty more. Did you know that Kotak Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd? Well, the bank is a part of the Kotak Mahindra Group, headed by Uday Kotak. Banking operations kick-started long back in 2003.

Kotak Insurance aims at developing exclusively customized car insurance products paired with a cutting-edge digital infrastructure to provide customers with nothing but the best. The company has established its presence in 167 cities across the country. There are a total of 232 offices at present. Kotak General Insurance has crossed significant milestones since it was first incorporated. If you secure your vehicle with a Kotak car insurance policy, be assured that you are protected from all ends when you hit the roads.

Kotak Car Insurance

Kotak General Insurance Company provides different types of car insurance plans for its policyholders which they can select as per their budget and requirements. Three types of car insurance plans offered by Kotak General Insurance include a Third-Party, Standalone Own-Damage and Comprehensive Insurance policy. A car insurance plan gives policyholders legal and financial protection from various sorts of unfortunate events. It also provides protection against third party liabilities arising due to an accident or a mishap.

Kotak car third-party insurance policy takes care of liabilities towards a third party due to an accident that may result in injuries, disability, death and property damage of the third party. To own a third-party policy is mandatory in India as per the Indian Motor Tariff and car owners can be charged with a fine of Rs. 2,000 and/or imprisonment for up to 3 months on being caught. This two-wheeler insurance plan gives legal assistance or financial in times of crisis.

Kotak standalone own-damage car insurance policy gives coverage for the damages to the insured car in case of an accident or a mishap. An own-damage policy gives compensation for the damages to your car in case of an accident, theft, vandalism, natural calamities, or man-made disasters. Standalone own-damage insurance plan gives financial protection to the policyholder for any damages to the car in case of any mishap.

Kotak comprehensive car insurance policy is a complete policy that combines third party as well as standalone own-damage coverage. This type of car insurance policy gives coverage for third party liabilities like bodily injuries, disability, death or property damage to the third party in addition to coverage for damages arising during an accident or any other mishap. Kotak also gives a personal accident cover with this plan to cover your injury caused while driving, mounting into, dismounting from, or travelling as a co-driver in the insured vehicle. It could be extended to other passengers of the car if they are in carrying capacity of the car.

You can buy add-on covers to increase the coverage of your own damage and comprehensive covers as per your requirements. Choosing the right add-ons is very important as they make a considerable difference in the amount of premium. Some of the top add-on covers offered by Kotak are roadside assistance, depreciation cover, consumables cover, engine protect, return to invoice, etc. The insurer also offers a No Claim Bonus for every claim-free year to customers holding their own damage or comprehensive covers.

Significant Points of Kotak Car Insurance

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